Here's a breakdown:
* Consignment: This refers to a specific type of agreement where the owner of goods (the consignor) entrusts another party (the consignee) to sell the goods on their behalf.
* Consignor: The person or entity who owns the goods and is sending them to the consignee.
* Consignee: The person or entity who is receiving the goods and is responsible for their handling and distribution.
In simpler terms: The consignee is the one who receives the package or shipment. They are the intended recipient of the goods.
Example:
Let's say a furniture store (consignor) sends a shipment of chairs to a retail store (consignee) in another city. The retail store is the consignee because they are receiving the chairs. They will likely sell the chairs to customers, but they are ultimately responsible for the chairs once they arrive.